The Asian Banker

ICICI Bank launches Insta Netexpress service
Nov 28, 2012

Frankfurt/ Munich, November 20th 2012 – ICICI Bank UK PLC, Frankfurt (ICICI Bank) has announced the launch of “Insta Netexpress” service through its online platform for Indians living in Germany. This service offers an assured exchange rate and faster transfer time for users who wish to send money to India. is a web-based online money transfer tracking platform which facilitates tracking of money transfers from 17 Eurozone countries to beneficiaries in India. Insta Netexpress will be offered to users in Germany in association with PAY.ON AG. This service will offer competitive exchange rates, no processing fee or service charges, faster transfer time and dedicated toll free telephone support.

Users will benefit from this cooperation and experience simple and fast access to international payment schemes. With PAY.ON's local presence, ICICI Bank will be able to meet customer needs better and provide a faster, more efficient service.

Commenting on the launch an ICICI Bank spokesperson said, ‘We shall leverage the synergies between and PAY.ON to offer yet another innovative solution to our users, where money can reach the beneficiary within 24 hours and the exact exchange rate applicable can be known at the time of sending money.”

Dr. Tschangiz Scheybani, Managing Director of PAY.ON Asia further said, “We are happy to partner with a global player like ICICI Bank for our processing platform 'PaySourcing’ as we are constantly experiencing a growing customer demand for online payment activities. The PAY.ON technology enables online payments by classical as well as alternative payment methods, thus enabling ICICI Bank to serve its clients by integrating solutions that specifically meet their payment demands.”


Re-disseminated by The Asian Banker

Categories: Retail Banking, Technology & Operations
Keywords: ICICI Bank

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